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Commonwealth Aircraft Bidding Process

Below is a general description of the normal purchase of an aircraft from Commonwealth Aircraft. Due to the variety of aircraft and sellers that we represent, the process may vary from that described herein. We request that all potential purchasers contact us directly to discuss the exact sale process for individual units.

  1. Visually Inspect the Aircraft.
  2. Commonwealth Aircraft recommends that buyers carefully and personally inspect, at its premises or by appointment for off-premise Aircraft, prior to submitting an offer to purchase.

    CWBB

    If a visual inspection is not possible by buyer or buyer's representative, Commonwealth   Aircraft will undertake reasonable efforts to accurately and fairly describe every unit on this website. However, Commonwealth Aircraft  does not warrant or represent the completeness or accuracy of its descriptions.  

    Before traveling to inspect a particular unit, we recommend that you call to confirm that the unit is still available for sale. However, due to the high volume of sales, Commonwealth Aircraft  cannot not be held responsible if the unit is not available when you arrive, regardless of whether the unit was available at the time of your inquiry.

  3. Make an offer to purchase. 
  4. Offers can be placed by phone, email, fax, or in person at our office. The most efficient way to place an offer is to complete the bid form located on our website. Before you click “submit form”, carefully review your offer to ensure that the information you have provided is complete and accurate. In the event of a successful sale, the information provided by the buyer on the bid sheet shall be used for legal documentation of the sale.

    Offers received shall be presented to the seller in accordance with seller’s guidelines. Most sellers give Commonwealth Aircraft discretion to reject, without presentation, offers deemed not commercially reasonable. Additionally, some sellers may require an offer to be submitted in contract form with a good faith deposit. Because offer procedures can vary from Aircraft to Aircraft, we encourage you to contact us directly to discuss the exact sale process for individual units.

    Replies to offers generally are transmitted to bidders within 1 business day or less. If you do not receive a reply to your offer within 2 business days, please contact our office to ensure that your offer has been received.

  5. Acceptance or rejection of offer to purchase:
  6. Acceptance: When an offer is accepted, Commonwealth Aircraft will notify the potential buyer. Please note that Commonwealth Aircraft will not “hold” or withdraw any unit from availability to other customers unless an adequate deposit, acceptable to Commonwealth  Aircraft and/or the seller has been made, and a sales contract has been executed by both buyer and seller.

    Rejection: If the seller rejects an offer to purchase, the seller may submit a counter offer for your consideration. Upon your receipt of the seller’s counteroffer, you may accept or reject the seller’s counter offer or offer further negotiations.

    NO AGREEMENT FOR PURCHASE AND SALE OF ANY AIRCRAFT IS BINDING UNTIL A FINAL WRITTEN SALES CONTRACT IS SIGNED BY ALL PARTIES AND AN ADEQUATE DEPOSIT IS IN PLACE.  

  7. Technical Inspection
  8. Prior to purchase and if desired, purchasers are permitted to perform a reasonable, onsite, non-destructive inspection of the Aircraft. Aircraft inspections are required to be performed by an FAA certified A&P mechanic with inspection authority. Such inspections are performed solely at the purchaser’s expense and risk and may have limitations and restrictions. No technical inspection can be performed that would require a maintenance log book entry. “Test Flights” generally are not permitted, but some exceptions may apply. Please contact our office for the terms and limitations of inspections for individual units.

  9. Acceptance or rejection of aircraft:
  10. After inspection, buyer will notify Commonwealth Aircraft in written form of their intent to accept the Aircraft and complete the purchase, or to reject the Aircraft and cancel the offer to purchase. If the Aircraft is rejected and the sale is cancelled, any deposit in place shall be refunded to the buyer, subject to the terms and conditions of the Purchase and Sale Agreement in place, by company check 

  11. Closing:
  12. On the agreed upon closing date, buyer shall pay Commonwealth Aircraft in full for the purchase of the Aircraft with cashiers check, bank certified check, or wired funds. Commonwealth Aircraft does not accept personal checks or credit cards for the purchase of Aircraft.

    Upon receipt of payment in full and the credit of such proceeds to the account of Commonwealth Aircraft, buyer will receive possession of the Aircraft and a copy a legal bill of sale (FAA form 8050-2) documenting the purchase. All original sales documentation forms to officially transfer title with the FAA regristry will be promptly sent to purchaser after the purchase.

    Unless special arrangements have been made, all units must be removed from Commonwealth  Aircraft ’s premises within seven (7) days following the completed purchase. For offsite Aircraft, buyer is required to make appropriate arrangements for storage and/or removal of the Aircraft with the storing party and is responsible for any fees associated with the Aircraft after the purchase.

    Buyer is responsible for all obligations, liabilities, costs and expenses involved with the removal and transportation of the unit from the Commonwealth Aircraft or the off- site sales location. Once the sale has been completed, Buyer has the sole obligation and responsibility to properly insure the aircraft. Commonwealth Aircraft assumes no responsibility in any way for the unit once closing has occured.

  13. Title
  14. A copy of the bill of sale transferring ownership will be issued at closing. Commonwealth Aircraft will undertake all reasonable efforts to ensure that buyers will receive other documentation necessary to record the sale with the FAA as quickly after purchase as possible. In most instances, titles will be delivered or mailed to purchaser within 10-14 days after the sale. However, Commonwealth Aircraft expressly reserves 30 days from date of purchase to deliver title.

  15. Fees
  16. No titling, user, or registration taxes or fees are due to Commonwealth Aircraft at the time of purchase. Commonwealth Aircraft charges a $199 processing fee and a local transactional tax of .0007% at the time of purchase. All other fees, taxes, and charges including, but not limited to  sales and registration taxes, license fees, user taxes, personal property taxes, et al shall be the sole responsibility of the purchaser.  

  17. No Warranty or Representation.
  18. All units are sold in the “as-is” and “where is” condition without representation or warranty of any kind, whether express implied, or otherwise.  Commonwealth Aircraft makes no warranties or representations with respect to any unit, and it disclaims all implied warranties, including without limitation, warranty of merchantability or fitness for a particular purpose.   Commonwealth Aircraft shall bear no liability of any kind arising in connection with the aircraft, including use or inability to use.  Buyer assumes full responsibility for ensuring the purchased Aircraft is acceptable, safe, airworthy, or otherwise.